The former Compaq Headquarters in Maynard is set to hit the auction block next month.
Boston Realty Advisors (BRA) has been retainedto hold the foreclosure auction on May 3.
129 Parker Street LLC owns the asset, which is located at 129 Parker St. at the intersections of Routes 27 and 117, and Anglo Irish Corp. Limited holds the mortgage.
"During this process, we are committed to operating a smooth foreclosure auction on behalf of our client," said Jason S. Weissman, principal and founder of Boston Realty Advisors. "The property has a great deal of potential for retail and multifamily development."
The property consists of 58.2 acres with three office/R&D buildings. The site has been rezoned for 225,000 square feet of retail, 100 units of multifamily housing and 400,000 square feet of R&D. In April 2009, the site was leased (subject to permits) to Price Chopper Supermarkets. The permits are now under appeal from an abutter of the site.
Past property occupants included Digital Equipment Corp. (DEC), which was later acquired by Compaq, and Hewlett-Packard, which merged with Compaq. The developer went through a lengthy permitting process to rezone the former Compaq headquarters as a mixed-use asset including retail space for a major grocer, additional shop space, apartments and R&D facilities.
